XRP is placed in a critical test as it attempts to reclaim the $0.6 level. Despite a small 1.06% drop over the last 24 hours, optimism remains high in certain circles for a weekend turnaround.
The current market position of XRP is a mixed basket of signals. The token continues to trade way below its all-time high of $3.92, which was achieved on 4th January 2018, and which points to the long way to complete recovery.
Can XRP go bullish this weekend?
Looking towards the weekend, Changelly’s data presents an interesting picture. For October 19, 2024, XRP is expected to experience a high 33.36% growth, which may drive the price to $0.729436.
The next day, October 20, presents a smaller but notable 15.26% increase, with a target of $0.630435.
These forecasts contrast significantly with the prevailing bearish mood reflected by Coincodex. Such discrepancy in forecasts only serves to emphasize the volatile and highly unpredictable nature of the cryptocurrency market, particularly in times of weekend trading when liquidity may be reduced.
One additional aspect to the weekend prognosis is the Fear & Greed Index, which stands at 73, depicting “Greed” in the marketplace. A level so high is typically a sign that the market is due for a correction and will temper XRP’s bullish plans.
While the $0.6 price point seems to be within sight based on Changelly’s aggressive forecast, traders would do well to employ these estimates with caution.
